NEW DELHI, Apr 1: Amid weak Asian cues and subdued domestic demand, copper prices fell by 0.55 per cent to Rs 407.95 per kg in futures trade today on speculators reducing their positions.
At the Multi Commodity Exchange, copper for delivery in April fell by Rs 2.25, or 0.55 per cent, to Rs 407.95 per kg in business turnover of 5,145 lots.
Similarly, the metal for delivery in June traded lower by Rs 2.25, or 0.54 per cent, to Rs 414 per kg in 374 lots.
Analysts attributed the fall in copper futures to weak Asian trend as a key gauge of Chinese manufacturing missed estimates, raising demand concern in the biggest consuming country.
Besides, subdued demand in the spot market also put pressure, they said.
Meanwhile, copper for delivery in July On the Shanghai Futures Exchange fell 1.9 per cent to 53,800 yuan (USD 8,666) per tonne, the lowest level since August 3. (PTI)
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